City starts rental housing program

STEVENS POINT—The City of Stevens Point announced a low-interest loan program intended to assist local rental property owners to enhance the rental market.
The Redevelopment Authority of the City of Stevens Point approved of the new program in early April, providing qualifying rental properties owners with a 2% interest loan in exchange for improving access to safe, higher quality housing. The program was designed based on recommendations from the city’s most recent housing study, a recent regional housing study, and the city’s recent Housing Taskforce report.
“Our last housing report and new data show that our community is in high need of improving its rental housing, and we need to try and keep costs down,” said Mayor Mike Wiza. “Rental housing is just as important to our community as owner-occupied housing, and the units targeted by this program are locally owned and managed, keeping the funds circulating in our community.”
To qualify for the program, property owners must agree to at least one condition to improve access to housing for residents who may struggle to find and secure a unit. The Rental Improvement Program is the first program administered by the city designed to improve rental housing.